Of the three cost-flow assumptions, FIFO usually results in the smallest net income when inventory costs are rising and the largest net income when inventory costs are falling

Helping a new employee to learn the ropes of the organization and fit easily into the new job is known as ______.

Fill in the blank(s) with the appropriate word(s).

Adelphia Manufacturing issued $70,000 of direct materials and $10,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction?

A) Raw Materials Inventory 80,000 Finished Goods Inventory 70,000 Work-in-Process Inventory 10,000 B) Work-in-Process Inventory 80,000 Raw Materials Inventory 80,000 C) Work-in-Process Inventory 70,000 Manufacturing Overhead 10,000 Raw Materials Inventory 80,000 D) Manufacturing Overhead 80,000 Raw Materials Inventory 80,000